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|Extreme Networks Announces Expiration of Hart-Scott-Rodino Waiting Period in Connection With Proposed Transaction with Enterasys Networks Holdings, Inc.|
|Posted: Wed Oct 16, 2013 02:55:11 PM|
SAN JOSE, Calif. -- October 16, 2013 -- Extreme Networks, Inc. (Nasdaq: EXTR) today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"), expired at 11:59PM EDT on October 15, 2013. The expiration of the waiting period is in connection with the previously announced transaction with Enterasys Networks Holdings, Inc.
As announced on September 12, 2013, Extreme Networks entered into a definitive agreement to acquire all of the outstanding stock of Enterasys in an all cash transaction valued at $180 million. Compliance with the HSR Act represents the completion of a significant closing condition for the transaction. Although the transaction remains subject to additional customary closing conditions, with few conditions remaining, Extreme Networks anticipates that the transaction will close in early November, 2013.